5 of the World’s Most Spectacular Megaprojects

We seem to be entering a new age of megaprojects as countries around the world mobilise the private sector to invest heavily in multi-billion or sometimes multi-trillion dollar infrastructure initiatives.

Megaprojects (sometimes also spelled “mega projects”) are very large investment projects and  require care in the project development process to reduce any possible optimism bias and strategic misrepresentation.

The most expensive large-scale megaprojects in the world range from  bridges, tunnels, highways, railways, airports, seaports, power plants, dams  and  wastewater projects to entire city districts.

Megaprojects seem to be practically recession-proof and have continued despite the 2008 global economic slowdown likely spurred megaproject construction, since the governments of some countries among them China, India, and the United States saw investment in infrastructure as a way to stimulate growth.  Moreover, many large corporations are locked into megaprojects, because only enorm…